India's Max Healthcare, HAL, Sona BLW to see inflows on MSCI inclusion - Nuvama

Max Healthcare Institute

12/05/2023 04:33

** Indian defence manufacturer Hindustan Aeronautics Ltd
 HIAE.NS , hospital chain operator Max Healthcare Institute Ltd
 MAXE.NS  and auto parts maker Sona BLW Precision Forgings Ltd
 SONB.NS  to see inflows after index provider Morgan Stanley
Capital International (MSCI) adds them to its India Standard
Index as part of a quarterly rejig
    ** Meanwhile, MSCI kicked out Adani Transmission Ltd
 ADAI.NS  and Adani Total Gas Ltd  ADAG.NS  from its emerging
markets and domestic indexes, and Indus Towers Ltd  INUS.NS 
from the domestic index 
    ** The changes will be effective as of the close of May 31
    ** Rejig could lead to inflow of $295 mln for Max
Healthcare, $195 mln for Hindustan Aeronautics and $175 mln for
Sona BLW, per calculations by Nuvama Alternative & Quantitative
Research 
    ** Inclusion of Max Health and Sona BLW came as surprise -
Nuvama
    ** Adds, India could receive net passive foreign flow of
$600 mln to $700 mln
    
    

    ($1 = 81.7800 Indian rupees)

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MSCI Index Rejig    https://tmsnrt.rs/3BlBB06
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 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))